VANCOUVER, BRITISH COLUMBIA and MONTREAL, QUEBEC--(Marketwire - Aug. 30, 2012) - PBI Actuarial Consultants Ltd. (PBI) and Actuaires-Conseils Bergeron & Associés inc. (ACBA) announced today that they have reached an agreement for PBI to acquire ACBA. Following this transaction, ACBA partners and employees will be integrated with those of PBI. The integration date is October 1st, 2012.
Established in Montréal, Canada, ACBA offers consulting services related to pension plans, investments, group benefits and compensation. ACBA is a signatory of the principles for responsible investments, and is recognised for its solutions and initiatives to support pension plan fiduciaries and sponsors in protecting their pension plans' sustainability and prosperity. As of July 31st, 2012, ACBA provided advice to more than a hundred clients comprised of retirement committees, unions, associations and employers.
"The expansion of our activities in Québec remains one of our strategic priorities," indicated Tony Williams, President of PBI. "This transaction allows us to strengthen our expertise and to expand our activities in Quebec, adding a proven, high caliber team that positions the company well to continue its growth."
"We join the ranks of PBI with pride and enthusiasm," stated Pierre Bergeron, ACBA senior partner who will be responsible for the firm's business development in Quebec.
"This integration gives us the resources to achieve our professional goals, which include the ongoing support of defined benefits pension plans in Canada. We will continue to provide innovative solutions to address financial risk and ensure sound management of current pension plans. We will utilize our extensive expertise to work with the new types of pension plans that will soon be set up in Canada, particularly shared risks and target benefit pension plans. Our experience combined with that of PBI, will make PBI a Canadian leader in these areas, and will provide our clients with access to seasoned consultants who are leaders in their field."
ACBA was founded in 1992 by Mr Pierre Bergeron. The firm is owned by its founding senior partner and 3 other employees of the firm. ACBA includes approximately fifteen employees. For more information on ACBA, visit the web site www.acba.qc.ca.
PBI was founded in 2008 further to the Watson Wyatt (now Towers Watson) spin-off of activities related to multiemployer plans. The company is owned by its three founders (Susan Chortyk, Neil Ramsden and Tony Williams) and employs approximately forty employees. PBI has two business locations: Vancouver and Montréal. After the transaction closing, the company will have more than 50 employees, including 15 actuaries. For more information, visit the web site www.pbiactuarial.ca.